The market is currently missing up to a whopping 7.2 million homes, according to the analysis, highlighting a crucial need for increased housing construction in the coming years.
However, homebuilders only started construction on 947,200 single-family homes and 472,700 multi-family homes in 2023 - resulting in an overall housing starts total of 14.7 million homes, of which roughly 10 million were single-family homes.
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